WALL TOWNSHIP, N.J.,
Jan. 8, 2013 /PRNewswire/ -- Coates International, Ltd. (NASDAQ OTCBB: COTE) –Coates International, Ltd. (the "Company") has been notified by Mr.
James Pang today that the Chinese delegation of business executives from a large engine and generator manufacturer are scheduling their flights to visit the Coates International, Ltd. headquarters in
New Jersey. Mr.
James Pang, our exclusive liaison agent to
China, will be accompanying them on their visit. The Chinese company's headquarters is located in
Hong Kong which has important business advantages.
Coates management is currently contemplating three options. The first option is to sell the Chinese a license to make, use and sell the CSRV engine technology design, the second option is to do a joint venture and the third option is to merge Coates International with the Chinese Company. Management believes that the third option is the way to go. The objective would be to manufacture the CSRV products in large quantities for distribution throughout the Eastern Hemisphere.
Management is enthusiastic about this meeting.
However, there can be no assurance that we will be successful in concluding any deals at this meeting.
Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Please see our filings with the Securities and Exchange Commission. Our public filings with the SEC may be viewed and printed on the website maintained by the SEC at http://www.sec.gov.
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